Nigerian Exchange Limited
Investors Exchange 303.481m Stocks as NGX Shed 0.20%
Weak sentiment amid growing economic uncertainty continue to drag on the Nigerian Exchange Limited (NGX) on Tuesday as 28 stocks closed in the red. This was after the CBN-led monetary policy committee held the interest rate unchanged at 11.5% to rein in the rising inflation rate.
Investors transacted 303.481 million shares worth N3.903 billion in 4,616 transactions during the trading hours of Tuesday. The market value of listed equities depreciated by N25.415 trillion while the NGX All-Share Index dipped by 0.20% to 47,156.56 index points.
As one of the key indicators of economic performance, the Nigerian stock market depicts recent regression in Nigeria’s key economic fundamentals. The inflation rate in Africa’s largest economy rose to 15.70% in the month of February amid fuel scarcity, increase in electricity tariffs and several other structural issues.
The Exchange year-to-date gain declined further, dropping to 10.39% from over 11% it rose to in early February before fuel scarcity, increase tariffs, high duties and slow economic activities crippled the economy.
Analysing each sector, Investors King observed that the NGX banking index that measures activity in the banking industry shed 38 basis points on negative close in the stocks of Jaiz Bank, Ecobank, UBA and Zenith Bank even though Fidelity, Sterling Bank, Access Bank and Union Bank posted gains.
The consumer goods sector also decline as Champion, Nestle, Guinness and Honey Flour closed in the read. PZ, Cadbury and Dangote Sugar appreciated slightly.
Despite global oil companies posting significant gains with the ongoing war in Ukraine, Nigeria’s energy sector closed in the red on Tuesday, dipping 101 bps on Oando and Eterna declines.
The story is not different in the industrial sector, Wapco dragged the industrial index down by 8bps. See other details below.
Top Gainers
| Symbols | Last Close | Current | Change | %Change |
|---|---|---|---|---|
| NPFMCRFBK | N 2.31 | N 2.53 | 0.22 | 9.52 % |
| FCMB | N 3.40 | N 3.67 | 0.27 | 7.94 % |
| PRESTIGE | N 0.46 | N 0.49 | 0.03 | 6.52 % |
| CHAMS | N 0.21 | N 0.22 | 0.01 | 4.76 % |
| UACN | N 11.60 | N 12.15 | 0.55 | 4.74 % |
Top Losers
| Symbols | Last Close | Current | Change | %Change |
|---|---|---|---|---|
| JAPAULGOLD | N 0.34 | N 0.31 | -0.03 | -8.82 % |
| CHAMPION | N 2.05 | N 1.87 | -0.18 | -8.78 % |
| OANDO | N 5.04 | N 4.70 | -0.34 | -6.75 % |
| MANSARD | N 2.30 | N 2.15 | -0.15 | -6.52 % |
| REGALINS | N 0.38 | N 0.36 | -0.02 | -5.26 % |
Top Trades
| Symbols | Volume | Value |
|---|---|---|
| ACCESS | 44151266.00 | 433299290.95 |
| UBA | 39543235.00 | 304855376.00 |
| FIDELITYBK | 33352263.00 | 103870693.94 |
| GTCO | 28335325.00 | 737469776.20 |
| ZENITHBANK | 28215996.00 | 758009979.60 |